The equivalent carbon tax does not apply to imports of synthetic greenhouse gases from 1 July 2014. Imports of synthetic greenhouse gases up to 30 June 2014 are subject to the equivalent carbon tax. Import licence holders are required to pay the equivalent carbon tax for the quarter ending 30 June 2014 for imports of synthetic greenhouse gases.

The Government is providing a refund to import licence holders of any equivalent carbon tax paid for imports made after 1 July 2014. To facilitate this process you will be asked to provide bank details when you provide your routine reports to the Department.

Export Refund

The equivalent carbon tax export refund scheme will continue to apply for a period after the equivalent carbon tax legislation is repealed. An application for an equivalent carbon tax export refund can be made up to 31 December 2015. To qualify, an export must have been made within 12 months of the import date for which the equivalent carbon tax was paid. Further criteria apply.

Compliance arrangements for 2013-14

Import licence holders liable for the equivalent carbon tax on synthetic greenhouse gas must continue to comply with their current obligations. Any information about the acquisition, import, export, trading or use of gas that may not comply with the requirements of the Ozone Protection and Synthetic Greenhouse Gas Management Act 1989 can be reported to the Department by free call 1800 803 772. Any information reported to the Department is highly regarded and will be held in strictest confidence.

Ensuring lower taxes are passed through the supply chain

The Government is committed to ensuring that consumers benefit from the removal of the carbon tax. The Australian Competition and Consumer Commission (ACCC) will monitor and enforce the anticipated price reductions across key sectors of the economy, including synthetic greenhouse gases.

The ACCC will also have, for one year following the repeal of the carbon tax, new powers to take action against businesses that engage in carbon tax-related price exploitation. These new provisions will complement the existing provisions of the Australian Consumer Law that prohibit misleading and deceptive conduct and false or misleading representations.

Other licences

The equivalent carbon tax does not apply to imports or manufacture of Ozone Depleting Substances (ODS) or equipment containing ODSs. Importers of ODS and refrigeration and air conditioning equipment containing ODS are required to hold a licence under the Ozone Protection and Synthetic Greenhouse Gas Management Act 1989 unless an exemption applies. This requirement will not change after the repeal of the equivalent carbon tax. Licence holders will still need to provide their quarterly reports and pay the existing cost recovery levy.